Sam Bankman-Fried, the CEO of the Hong Kong-based cryptocurrency derivatives exchange FTX, donated $ 5.2 million to Vice President Joe Biden’s presidential campaign.

Such as The Wall Street Journal reported On Oct. 28, Biden’s presidential campaign received a total of $ 79.5 million from the top 100 donors who describe themselves as CEOs. Bankman-Fried is reportedly the second-largest “CEO contributor” to the campaign, after Michael Bloomberg, a co-founder of the eponymous financial and media company, who donated $ 56 million.

The main contributions of CEOs to both Biden and current President Donald Trump are just a drop in the bucket. Both campaigns brought in $ 2.2 billion dollars along with their outside lenders.

While Bankman-Fried is a “relative newcomer to political spending,” according to The Wall Street Journal, FTX has already delved into the arena.

In February 2020, FTX set up a futures contract designed to allow merchants to bet on Trump’s re-election in 2020. The contract, called Trump Token, will expire to $ 1 if Trump wins the 2020 US presidential election and $ 0 if he loses. According to the latest recorded data data, the majority of traders has bet on “Trump Lose”. FTX then launched a similar futures contract for Trump’s rival Biden.

Current prices of TRUMPWIN and TRUMPLOSE tokens on FTX

At the time of publication, votes for the US presidential election are still being counted, with the winner declared so far.